Boeing beats the Street as it stays on track to beat on production record

Boeing announced on Wednesday that it was on track to deliver as many as 815 new commercial aircraft in 2018, almost 7% over the industry-record 763 it manufactured a year earlier.

The firm forecast an operating cash flow for its current trading year of nearly $15bn, compared to the $13.34bn it collected in 2017, boosting earnings per share from $2.47 all the way up to $4.80 each.

Boeing, the world's largest aeroplane manufacturer, booked a one-time tax gain of $1.74 per share thanks to the firm's future tax liabilities being deferred as a result of the Republican Party's tax reforms enacted in December.

However, removing the effect of the tax gain, Boeing still posted earnings per share of $3.06, beating Wall Street expectations of $2.89 each.

The company said it expects to bring in $96bn to $98bn in revenue in 2018.

"Our team remains focused on winning through innovation, driving growth and productivity and extending our position as the world's leading aerospace company," Boeing chief executive Dennis Muilenburg said on Wednesday.

The tail end of the 2017 calendar year was still not the best for the aerospace giant, with European rival Airbus logging more jet orders on the back of a late surge in December.

That came at the same time as it lost its US International Trade Commission ruled against the company in its trade dispute with Canadian rival Bombardier.

The surprise decision in the Bombardier case essentially overturned an earlier decision by the US Commerce Department's recommendation of slapping tariffs as high as 300% on the sale of at least 75 new Bombardier C Series jets to Delta Air Lines, effectively killing the project.

But those recent events are unlikely to distract Boeing from a historic year that saw the company's stock soar 109% in the last 12 months.

As of 1400 GMT, shares had gained 6.55% in pre-market to sit at $359.82 each.